Simplify Media: Stream Your iTunes to iPhone

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Last week we told you about an Apple patent that could, potentially, allow access to your iTunes library from anywhere.
Now, a new self-titled app from Simplify Media is already taking strides to make it a reality.
Simplify Media, a version of which was available for jailbroken iPhones in the days of yore, now has a legitimate copy up in the App Store. What's that mean to you? Well, streaming from your iTunes straight to your iPhone over WiFi, 3G, or even Edge of course!
In addition, the first 100,000 people who download Simplify Media will snag it for free, so start searching and downloading immediately. It'll cost you $3.99 thereafter.
Here's a breakdown of some features, and check the demo above for a walkthrough: